The Comparative Study Of Income Tax Accounting Based On New Accounting Standards

The research of income tax accounting in China started later, after the reform of accounting system in 1994, our country just began to research further in income tax accounting. Before then, pre-tax accounting profit calculated according to the accounting standards was in accordance with Taxable Income calculated according to the tax law, so income tax accounting was not involved. On February 15, 2006, Ministry of Finance issued"enterprise accounting standard", the new guidelines basically achieved with the international convergence of accounting standards."Accounting Standards for Enterprises No.18 - Income Taxes"takes place great change,it first uniformed Income tax accounting method for balance sheet debt method. Balance sheet debt method is different to other three methods, it is more scientific and reasonable, but also more complex, therefore, it is an enormous challenge to enterprises which always use taxes payable method. In addition, March 2007 Ministry of Finance issued new enterprise income tax law, with the implement of the two new laws, income tax accounting problems are becoming hotspots again.This article analyzes the relevant problems after income tax accounting standards issued from the theoretical and practical point of view .In theory, firstly ,it discusses the emergence,development and relevant concepts of income tax accounting. Secondly, it compares the differences of the new and old income tax accounting standards, finding the advantage and the problem of the new income tax accounting standards by comparison, then gives suggestions. In practice, firstly, it compares these four methods from the theoretical and practical point of view through the comparative analysis and case analysis, finding the similarities and differences between them, and it also provides a reference of practical operation for the execution of balance sheet debt methods. Secondly, it collects and organizes some data about listed companies'2006 shareholders equity differences reconciliation, discovering that the implementation of new income tax accounting standards had a great influence on listed companies'2007 initial shareholders equity, and further analyses the confirmed case and the influence factors of deferred tax assets and liabilities by listed companies'2007 financial reports. Finally, under the consideration of time and ability, this article only gives a brief overview of the effect after the new standard issued, with reference to the relevant academic research results, leaving for further research.